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EDUCATION AND LIBRARIES 473
ing a member of the local system; provided further if in any
case where a certificated teacher, now a member of the local
retirement system, is transferred to the State System his actual
or potential retirement benefits would be less than the amounts
he would have received from the local system if he had continued therein, the local retirement system or the Board of
Education shall make up the difference.
so that said section, as amended, shall read as follows:
Section 169.021. Transfer of teachers from local to state retirement systems — procedure — districts of more than 75,000. —
1. Whenever two-thirds of the teachers of a school district having
a population of more than seventy-five thousand and which has,
pursuant to law, a local retirement system, shall file a petition with
the board of trustees of the local retirement system and with the
local board of education of such school district requesting that
their membership in the local retirement system be transferred to
the public school retirement system of Missouri, said petition if
and when approved by the board of trustees of the local retirement system and the board of education of the local school district shall be transmitted to the board of trustees of the state retirement system. Thereupon at such time as all the terms and conditions of this section as apply to teachers, as hereinafter set forth,
are fulfilled the board of trustees of the state retirement system
shall in mutual agreement with the board of trustees of the local
retirement system and the local board of education set a date,
which shall be not later than one year after the filing of the petition with the state system, upon which the local system shall be
declared discontinued as to such teachers and all persons who are
or may become teachers, as hereinbefore defined, in such local district shall be members of the state retirement system.
2. Prior to the date when the local system is discontinued
as to teachers under the provision of this section, the board of
trustees of the local retirement system shall transfer to the board
of trustees of the public school retirement system of Missouri such
moneys, bonds and evidences of indebtedness as represent the accumulated contributions of each teacher member of the local retirement system, but not in excess of the amount of the accumulated contributions of a teacher already a member of the state
system with the same period of membership service and same
annual salaries during such period, along with an equal amount
representing contributions by the local board of education on account of such teachers; and these funds are to be credited by the
board of trustees as have other contributions received by the public school retirement system of Missouri. If the accumulated contributions of any teacher member in the local retirement system
are in excess of these requirements, such excess shall be refunded
to the teacher by the local system.
Object Description
Description
| Title | Missouri Session Laws |
| Identifier | LAWS_67th_ Extra-1_2_1953_0472.tif |
| Collection Name | Missouri Session Laws, 1824-present |
| Creator | Missouri. General Assembly |
| Subject.LCSH | Banks and banking--Missouri; Law and legislation--Missouri; Missouri--Appropriations and expenditures; Missouri. General Assembly; Revenue--Missouri; |
| Subject.Local | Laws of Missouri; Session Laws (Mo.) |
| Date.Digital | 2016-01-21 |
| Publisher | Missouri. General Assembly |
| Publisher.Digital | Missouri State Archives |
| Type | Government and political records |
| Format | JPEG2000 |
| Language | eng |
| Coverage | Missouri |
| Source | Missouri State Archives |
| Rights | Copyright is in the public domain. |
| Preferred Citation | Required citation: Laws of Missouri, (number) General Assembly, (number) and (type, Regular, Special, Extra) Session, Calendar Year, page number; State Documents Collections, Missouri State Archives, Jefferson City. |
| Contributing Institution | Missouri State Archives |
| Copy Request | Email: archref@sos.mo.gov |
| Transcript | EDUCATION AND LIBRARIES 473 ing a member of the local system; provided further if in any case where a certificated teacher, now a member of the local retirement system, is transferred to the State System his actual or potential retirement benefits would be less than the amounts he would have received from the local system if he had continued therein, the local retirement system or the Board of Education shall make up the difference. so that said section, as amended, shall read as follows: Section 169.021. Transfer of teachers from local to state retirement systems — procedure — districts of more than 75,000. — 1. Whenever two-thirds of the teachers of a school district having a population of more than seventy-five thousand and which has, pursuant to law, a local retirement system, shall file a petition with the board of trustees of the local retirement system and with the local board of education of such school district requesting that their membership in the local retirement system be transferred to the public school retirement system of Missouri, said petition if and when approved by the board of trustees of the local retirement system and the board of education of the local school district shall be transmitted to the board of trustees of the state retirement system. Thereupon at such time as all the terms and conditions of this section as apply to teachers, as hereinafter set forth, are fulfilled the board of trustees of the state retirement system shall in mutual agreement with the board of trustees of the local retirement system and the local board of education set a date, which shall be not later than one year after the filing of the petition with the state system, upon which the local system shall be declared discontinued as to such teachers and all persons who are or may become teachers, as hereinbefore defined, in such local district shall be members of the state retirement system. 2. Prior to the date when the local system is discontinued as to teachers under the provision of this section, the board of trustees of the local retirement system shall transfer to the board of trustees of the public school retirement system of Missouri such moneys, bonds and evidences of indebtedness as represent the accumulated contributions of each teacher member of the local retirement system, but not in excess of the amount of the accumulated contributions of a teacher already a member of the state system with the same period of membership service and same annual salaries during such period, along with an equal amount representing contributions by the local board of education on account of such teachers; and these funds are to be credited by the board of trustees as have other contributions received by the public school retirement system of Missouri. If the accumulated contributions of any teacher member in the local retirement system are in excess of these requirements, such excess shall be refunded to the teacher by the local system. |
